Legacy Investment Solutions LLC Acquires New Position in SoFi Technologies, Inc. $SOFI

Legacy Investment Solutions LLC bought a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) during the second quarter, HoldingsChannel.com reports. The firm bought 3,324 shares of the company’s stock, valued at approximately $61,000.

Other institutional investors also recently bought and sold shares of the company. Soltis Investment Advisors LLC lifted its stake in shares of SoFi Technologies by 1.8% during the 2nd quarter. Soltis Investment Advisors LLC now owns 28,436 shares of the company’s stock worth $518,000 after purchasing an additional 501 shares during the period. Burney Co. increased its stake in SoFi Technologies by 0.4% in the second quarter. Burney Co. now owns 147,136 shares of the company’s stock valued at $2,679,000 after purchasing an additional 557 shares during the last quarter. Drive Wealth Management LLC boosted its stake in SoFi Technologies by 1.4% in the 2nd quarter. Drive Wealth Management LLC now owns 40,546 shares of the company’s stock worth $738,000 after buying an additional 563 shares during the last quarter. USAdvisors Wealth Management LLC grew its holdings in SoFi Technologies by 4.5% in the 2nd quarter. USAdvisors Wealth Management LLC now owns 16,200 shares of the company’s stock valued at $295,000 after buying an additional 700 shares during the period. Finally, D.A. Davidson & CO. grew its holdings in SoFi Technologies by 0.7% in the 2nd quarter. D.A. Davidson & CO. now owns 122,128 shares of the company’s stock valued at $2,224,000 after buying an additional 798 shares during the period. 38.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CTO Jeremy Rishel sold 98,733 shares of the business’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $27.50, for a total transaction of $2,715,157.50. Following the transaction, the chief technology officer directly owned 759,553 shares of the company’s stock, valued at approximately $20,887,707.50. The trade was a 11.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Kelli Keough sold 10,036 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $28.33, for a total value of $284,319.88. Following the completion of the transaction, the executive vice president owned 275,374 shares of the company’s stock, valued at approximately $7,801,345.42. This represents a 3.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 129,383 shares of company stock valued at $3,513,171 in the last ninety days. Company insiders own 2.60% of the company’s stock.

SoFi Technologies Price Performance

SOFI opened at $28.21 on Friday. SoFi Technologies, Inc. has a 52-week low of $8.60 and a 52-week high of $32.56. The company has a 50 day moving average of $27.64 and a two-hundred day moving average of $21.23. The company has a market cap of $33.78 billion, a P/E ratio of 52.24, a P/E/G ratio of 2.75 and a beta of 1.93. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.57.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Tuesday, October 28th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. SoFi Technologies had a net margin of 19.29% and a return on equity of 5.52%. The business had revenue of $949.63 million for the quarter, compared to analyst estimates of $880.33 million. During the same quarter in the previous year, the business posted $0.05 EPS. The business’s quarterly revenue was up 37.7% on a year-over-year basis. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. On average, analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SOFI shares. JMP Securities reiterated a “market perform” rating and set a $17.00 price objective on shares of SoFi Technologies in a report on Monday, July 14th. Keefe, Bruyette & Woods increased their price target on shares of SoFi Technologies from $18.00 to $20.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 29th. Jefferies Financial Group reiterated a “buy” rating and issued a $35.00 price target on shares of SoFi Technologies in a report on Tuesday, October 28th. Morgan Stanley boosted their price objective on shares of SoFi Technologies from $13.00 to $18.00 and gave the company an “underweight” rating in a research note on Monday, September 29th. Finally, Needham & Company LLC increased their target price on SoFi Technologies from $29.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $25.06.

SoFi Technologies Company Profile

SoFi Technologies, Inc provides various financial services in the United States, Latin America, and Canada. It operates through three segments: Lending, Technology Platform, and Financial Services. The company offers lending and financial services and products that allows its members to borrow, save, spend, invest, and protect money.